Veeva Systems Latest Cloud Company To File For IPO

Veeva Systems is the latest cloud company set to test the public's appetite for this growing sector.

The company, which makes software for the life sciences industry, Wednesday filed papers with the Securities and Exchange Commission to raise up to $150 million in an initial public offering. It didn't disclose an expected stock price or the number of shares it expects to sell.

The company makes customer relationship management software, content management software and collaboration software designed to help life sciences companies better manage their work with customers. The software is delivered to customers as needed via the Internet "cloud."

For the six months ended July 31, Veeva said it had net income of $10.8 million, up 47.5% from the year-earlier period. It said revenue jumped 71% to $92.4 million.

For its fiscal year ended Jan. 31, Veeva said net income soared 344% to $18.7 million, while revenue rose 111% to $129.5 million.

Veeva Systems is the latest cloud company set to test the public's appetite for this growing sector.

The company, which makes software for the life sciences industry, Wednesday filed papers with the Securities and Exchange Commission to raise up to $150 million in an initial public offering. It didn't disclose an expected stock price or the number of shares it expects to sell.

The company makes customer relationship management software, content management software and collaboration software designed to help life sciences companies better manage their work with customers. The software is delivered to customers as needed via the Internet "cloud."

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